Next year Baldwin plans to include an additional performance bonus of 0.25% in i

Question

Next year Baldwin plans to include an additional performance bonus of 0.25% in its compensation plan. This incentive will be provided in addition to the annual raise, if productivity goals are reached. Assuming the goals are reached, how much will Baldwin pay its employees per hour? Select: 1 $28.22 $31.04 $28.15 $29.63 Next year Baldwin plans to include an additional performance bonus of 0.25% in its compensation plan. This incentive will be provided in addition to the annual raise, if productivity goals are reached. Assuming the goals are reached, how much will Baldwin pay its employees per hour? Select: 1 $28.22 $31.04 $28.15 $29.63

Explanation / Answer

Total raise = 5% + 0.25% = 5.25%

Present wages = $28.15

Baldwin will pay = $28.15 (1.0525) = $29.63

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